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Functional Roles

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e and accounting management are two additional areas that help to provide the financial monitoring of the business. These two areas are separate, but rely heavily on each other to monitor expenses, costs, and determine the profitability of the business. According to Pope (2010), “accounting academics who have successfully taken their knowledge into the real world often play important roles in helping financial statement users in the investment management and investment banking communities to interpret the accounting information that finds its way onto the large and expensive databases that help drive many investment decision models” (p.89). Budgetary considerations and revenue monitoring feed directly into the statistics that must be monitored to assure success.
Economics and marketing management areas monitor the needs of the business and the image of the company. The economics monitors the supply and demand of the goods and services and assures that prices remain both competitive and in line with the public needs to find that fine line between too high and too low. Marketing helps to target the individuals and groups appropriately for advertisement and assure response to yield the desired image and goals.
Human resources management involves getting the correct policies in place, ensuring they are being followed and getting the correct people in the correct places to allow the business to function. They must work closely with the law management areas to assure compliance with all state, local, national, and possibly international laws and rules. HR management also oversees the training and development of the individuals throughout an organization. According to Williams (1969), “training is held to have certain definitive characteristics. One is that it focuses on the individual. Another is that the individual is expected to 'transfer' what he has learned...

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